As Bitcoin (BTC) continues to maintain its strong bullish outlook, the altcoin industry is taking charge, with Ripple Labs’ XRP emerging as a key leader in this phase of the 2024/2025 bull cycle. On February 14, XRP surged over 10% during the mid-London session, reaching around $2.68, marking a strong momentum shift. The large-cap altcoin now boasts a fully diluted valuation of $269 billion and a 24-hour trading volume of approximately $5 billion, signaling robust investor confidence.
Midterm XRP Price Expectations
XRP’s price action has been nothing short of impressive, especially as it recently rebounded from a support level near $2.30 and is now retesting the resistance at $2.72. Since December 2024, XRP has been consolidating in a rising bullish flag following a major breakout from a six-year triangular consolidation. From a technical standpoint, XRP appears to be in the second wave of the Elliott wave theory. A successful breakout above the $2.72-$2.88 range could propel XRP towards the upper boundary of this bullish flag, potentially driving the price to new heights.
As long as $XRP holds steady above $2.30, it could see a move toward $3! pic.twitter.com/GLRcpHWTGr
— Ali (@ali_charts) February 13, 2025
Crypto analyst Ali Martinez remains optimistic, noting that if the $2.30 support level holds, XRP could be poised for a rally towards a new all-time high (ATH). However, there’s still the possibility of a bearish head and shoulders pattern, accompanied by a bearish divergence on the Relative Strength Index (RSI). In such a scenario, XRP could find support around $1.26, coinciding with the 2.618 daily Fibonacci extension.
Why XRP Remains Bullish
Several factors are fueling XRP’s bullish sentiment. Ripple’s continuous developments on the XRPL network, along with strong partnerships—such as its collaboration with Revolut—are enhancing its DeFi interoperability. Ripple’s USD (RLUSD) has grown significantly, with a market cap exceeding $108 million.
Also Read: XRP & Dogecoin ETFs Under SEC Review: Who Will Secure Approval First?
Additionally, Ripple CEO Brad Garlinghouse emphasized that a spot XRP ETF approval in the U.S. is imminent. The recent acknowledgment by the U.S. SEC of the Grayscale XRP Trust filing further solidifies this sentiment. With institutional interest rising and new listings, like the upcoming Crypto.com exchange listing by February 14, 2025, XRP’s bullish momentum looks set to continue.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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